"Pennies: Going in Raw" is one of the most popular finance and investment themed podcasts. On Monday, hosts Hughe Henne and Dan Deity talked about Bitcoin's rise to new highs and SPAC opportunities.
Bitcoin's Two Catalysts: Bitcoin's rise to new all-time highs was aided by two stock market-related catalysts, Henne said.
First, as soon as the short squeeze fiasco involving
GameStop Corp. (NYSE:GME) and other heavily shorted names came to a halt, investors would be looking to park their money in bitcoin, along with cannabis stocks.
Bitcoin's rally was also fueled in part by
Tesla Inc's (NASDAQ:TSLA) announcement it not only bought $1.5 billion worth of bitcoin but would accept the digital currency as a form of payment.